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ISLAMABAD: Pakistan has decided to borrow $600 million from China to boost its dwindling foreign currency reserves that have depleted by $1.7 billion since expiry of the International Monetary Fund programme.

It is the second time in the last three years that the Pakistan Muslim League-Nawaz government has decided to ask a friendly country to boost its foreign currency reserves. Earlier, Saudi Arabia had gifted $1.5 billion to Pakistan in two equal tranches in 2014.

The country’s top economic managers on Thursday held a meeting to thrash out details for the Chinese loan, finance ministry sources said. State Bank of Pakistan Governor Ashraf Wathra, Finance Minister Ishaq Dar and Finance Secretary Tariq Bajwa attended the meeting.

The Bank of China will provide the loan on commercial terms, the sources said. They said the amount will be disbursed this month. The loan is expected to be given for a period of three years at an interest rate ranging between 3.1% and 3.2%, said the sources.

The response of SBP spokesman Abid Qamar was awaited till the filing of the story. He had been requested to confirm whether Pakistan has already received $300 million out of $600 million from China.

With fresh borrowings, the Chinese contribution in Pakistan’s official foreign currency reserves held by the SBP would increase to $1.3 billion, as China Development Bank has already lent $700 million for balance of payment support during the current fiscal year. The China Development Bank has given the loan for a period of three years.

The $1.3 billion Chinese borrowings are part of $2 billion foreign commercial bank loans that Pakistan has budgeted for current fiscal year 2016-17. In addition to Chinese $1.3 billion borrowings, Pakistan also obtained $200 million from Noor Bank of United Arab Emirates. The foreign loans would support the reserves besides helping to meet the budget financing needs.

Sources said the cabinet has already approved a summary to obtain these loans from China. Last month Pakistan had returned $500 million that it had obtained from China about five years back for providing a cushion to the foreign currency reserves. The reason for returning $500 million loan was that there was a requirement of sending a formal request by prime minister of Pakistan to China to extend the $500 million loan after every year, said the sources.

In October 2016, Pakistan’s official foreign currency reserves stood at $18.925 billion, according to the central bank. During the week ending on February 3, the SBP’s reserves decreased to $17.218 billion, said the SBP on Thursday. There was a reduction of $376 million in one week alone, taking the total tally to $1.72 billion since the expiry of the IMF programme.

Pakistan has been struggling to maintain its official foreign currency reserves that it has built largely by obtaining expensive foreign loans during past three years. The government’s failure to enhance exports, attract foreign investment complicated the matters for it.

Growing China Pakistan Economic Corridor-related imports, decline in exports, absence of Coalition Support Fund, and slowdown in remittances, pushed the current account deficit to $3.6 billion in the first half of FY17, from $1.7 billion in the same period last year, according to latest Monetary Policy Statement of the SBP. It added this higher deficit was financed by an increase in bilateral and multilateral funding along with pick up in investment flows.

“Going forward, with the aforementioned risks to the external sector, the need of financial inflows would grow further,” the central bank cautioned.

During first half of this fiscal year, the federal government borrowed $4.1 billion from the foreign lenders. This includes $900 million foreign commercial bank borrowings and $1 billion raised by issuing Sukuk bonds. The relatively cheaper foreign financing from multilateral financial institutions has significantly slowed down for past many months.

Pakistan is committed to countering "all militant groups" operating within its territory, army chief General Qamar Javed Bajwa has assured US defence secretary James Mattis during their first telephonic conversation.

Gen (retd) Mattis reaffirmed the importance of bilateral military relationship during his conversation with Pakistan's Chief of Army Staff, the Pentagon said.

"Mattis recognised the significant sacrifices the Pakistan military has made in the Federally Administered Tribal Areas, and expressed appreciation for the Pakistan military's recent support for efforts to defeat ISIS-Khorasan Province," he said.

"Both leaders reaffirmed the importance of the bilateral military-to-military relationship, and highlighted the importance of continuing to work together on counter-terrorism and regional stability," Davis said.

Pakistan Army spokesman Major Gen Asif Ghafoor said in a statement that General Bajwa and secretary Mattis "had a twenty minutes telephone conversation".

He said they reaffirmed the commitment towards the common goal of peace and stability in the region and discussed measures towards that end. Bajwa and Mattis also agreed on continued engagement at multiple levels.

The army chief also congratulated the Secretary on his assumption of new responsibility and expressed the hope that his vast experience in the field will be of great value to the region, Ghafoor said.

Pakistan has been trying to establish a rapport with the new administration but so far without much success.

Prime Minister Nawaz Sharif's close foreign policy aide Tariq Fatemi had visited Washington in December but could not meet any top official of then president-designate.

The only high-level contact so far between the two sides was a brief telephonic talk between Trump and Sharif, who had called the former to congratulate him after his electoral triumph.

This is where the problem lies. The US Defence Secretary talks to Defence Ministers of other nations, but in Pakistan it is not Asif Khwaja that he spoke to but the PA Chief.

So, anticipating this call and to be generally prudent with the unpredictable Trump, Pakistan Army decided to safely put away one of its Corps Commanders, Hafeez Saeed, in its safe house at Lahore, Masjid Chauburji, for the time being.

KARACHI: Since the self-imposed ban on Bollywood films got lifted, everyone had been anticipating the release of Shah Rukh Khan and Mahira Khan-starrer, Raees, in Pakistan. That hype was killed when the film was banned for apparently portraying Muslims in a negative light.

The situation is unfortunate for multiple reasons, including the fact that the ban had just been lifted and the cinemas needed a high profile film to get back in the race and sustain business.

Speaking with The Express Tribune, Pakistani film-makers weigh in on the Raees ban. Janaan director Azfar Jafri was quite disappointed because he was looking forward to watch the film. “I haven’t followed all the updates regarding the ban but I am disappointed because I wanted to watch the film. I have heard a lot about Shah Rukh and Mahira’s performance.”

As to what he thought about the ban, Jafri said, “Films are a different medium. Storytelling is an art form. I am sure the film-maker didn’t want to portray Muslims in a negative light. It’s all fictional at the end of the day. But I guess it’s up to the authorities; if they think it’s in the best interest, then so be it. But I would reiterate that I am highly disappointed.”

Wajahat Rauf echoed the sentiment, saying, “I think it was a unanimous decision by the censor. It’s obviously a big film that everyone wants to watch because of Shah Rukh and Mahira. But we haven’t seen the film yet so all I can say is there is a nationalistic aspect to it. And if the authorities think the content is sensitive for our sensibilities, then we stand by it.”

Film-maker Shahzad Rafique added, “I don’t think the ban was necessary but we have to go by the regulations. We can’t just destroy the system because of one film. It’s not like all films have been banned. Even from a business point of view, many other films are running in the cinemas.”

However, in contrast with others, Jami Mahmood was unsurprisingly straightforward in his opinion. “Like I have always said, the Pakistani government truly believes that the film industry is a red light district. They openly ridicule us,” he said. “They don’t have guts to ban THE BANNED terror groups openly taking out processions but they find films as soft targets.”

Whereas the Moor film-maker outright blamed the government for hypocrisy, Mah-e-Mir director Anjum Shahzad was adamant that the authorities come up with a policy for films. “I haven’t watched Raees, so obviously I can’t say much about its ban. But I would say that there must be a policy for all foreign films, not just Bollywood. Just decide already if you want to allow foreign films or not and stop being on the fence all the time.”

He added that the negative depiction of Muslims was a very minor issue. “I don’t think that could be the only reason. I’m sure there’s more to it but I think all films released in Pakistan, whether local or foreign should be in accordance with the national sensibilities.”

Or in other words, if mushy is perpetually in trouble, he will perpetually remain in exile!!

An anti Terrorism Court (ATC) of Islamabad on Thursday issued perpetual warrants of arrest for former president retired General Pervez Musharraf in the case relating to detaining over 60 judges of the superior courts after declaring an emergency in Nov 2007

Now that the perpetual warrants have been issued, proceedings against Gen Musharraf will be stalled till his arrest or surrender.

Musharraf’s willingness to return to the country to face the cases pending against him if the police gives him foolproof security

about three dozen terrorist groups had threatened Mr Musharraf and that he had also survived serious attempts on his life, including two near army house in 2003

The Pakistan Cricket Board has provisionally suspended two players — Sharjeel Khan and Khalid Latif — under its Anti-Corruption Code as part of an ongoing investigation into an international syndicate which is believed to be attempting to corrupt the Pakistan Super League (PSL) which is being played in Dubai.

Both Latif and Khan were part of the Islamabad United team in the ongoing second edition of the PSL

KARACHI: Overseas Pakistani workers sent $1,488 million in January 2017, up 1.45% compared with the same month last year, according to the State Bank of Pakistan (SBP) data.However, total remittances in the first seven months (July to January) of fiscal year 2017 came down by 1.8% to $10.95 billion from $11.15 billion in the same period of the previous year.Remittances play a major role in stabilising Pakistan’s external sector, as they make up almost half the import bill and cover deficit in the trade of goods account.The country-wise details for the month of January 2017 show that inflow of remittances from Saudi Arabia – the country that hosts the largest diaspora of Pakistanis (about 2.2 million) – significantly came down to $434.15 million compared with $463.44 million in January 2016.Recently, a Saudi newspaper while quoting security sources said that more than 39,000 Pakistanis have been deported from Saudi Arabia in the past four months.Analysts say job losses due to record low oil prices and growing security concerns are some of the major reasons why the kingdom is fast deporting foreigners. This can create problems for Pakistan as it may receive low remittances in coming months from Saudi Arabia.Money coming from GCC countries (including Bahrain, Kuwait, Qatar and Oman) declined slightly to $186.41 million from $192.10 million in the period under review.Similarly, remittances from the EU countries declined to $31.69 million from $31.94 million.However, money coming from the United Arab Emirates (UAE) went up to $323.11 million in January 2017 from $314.4 million in the same month of the previous year. Similarly, remittances from the US increased to $175.01 million in January 2017 from $168.94 million.Remittances from the United Kingdom (UK) also increased to $180.91 million in January 2017 from $174.48 million in January 2016.Combined remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during January 2017 significantly increased to $156.44 million compared with $121.08 million received in January 2016. (Fear of deportation factor)Pakistan received remittances amounting to $19.9 billion in 2015-16, up 6.4% from the previous year.Declining exports and a gradual slowdown in remittances are major challenges for the economic managers of the country.Analysts warn the country’s foreign reserves might deplete fast in coming months unless serious steps are taken to increase exports on sustainable basis.

The Pakistan Cricket Board has provisionally suspended two players — Sharjeel Khan and Khalid Latif — under its Anti-Corruption Code as part of an ongoing investigation into an international syndicate which is believed to be attempting to corrupt the Pakistan Super League (PSL) which is being played in Dubai.

Both Latif and Khan were part of the Islamabad United team in the ongoing second edition of the PSL

DUBAI: Ten cricketers including Mohammad Asif are currently being investigated by the ICC for allegedly being involved in PSL's match-fixing saga, which shook the league after Sharjeel Khan and Khalid Latif were suspended a day earlier.

An inquiry has been initiated involving Irfan in the recent match-fixing allegations which have rocked the PSL since Friday. Sources disclosed that the inquiry initiated by the ICC includes 10 other players who could be found guilty of the allegations and may face action.

Irfan does not face immediate suspension, Babar and Hasan to continue playing PSL: Sethi

PSL Chairman Najam Sethi confirmed that Irfan was being investigated by the ICC's Anti-Corruption Unit but ruled out immediate suspension like Sharjeel Khan and Khalid Latif had suffered. The former PCB Chairman stated that Quetta Gladiators' Zulfiqar Babar and Karachi Kings' Shahzaib Hasan had been probed by ICC's Anti-Corruption Unit and had been allowed to play the league.

Irfan, Shahzaib, Babr quizzed regarding allegations

Sources revealed that other cricketers were also involved in the match-fixing scandal and will most likely be punished by ICC. Sources also disclosed that these investigations had been kicked off by ICC's international investigators and not the PCB.

According to details, Shahzaib Hasan, belonging to Karachi Kings, was called off from the field and investigated. Data from his mobile phone was also extracted to investigate the player. Mohammad Irfan, Islamabad United's pacer, has also been investigated regarding the match-fixing allegations and the cricketer may also be sent to Lahore today. The investigation has expanded to include Quetta Gladiators’ Zulfiqar Babar as well, and reports stated that as many as 10 players were currently being investigated for allegedly being involved in the incident.

Local agencies also helped ICC in its investigation against cricketers involved in fixing matches of the PSL. The investigations reported that one group of cricketers had accepted the offers that had been presented to them by bookies whereas the other group of players had not reported to the Anti-Corruption Unit that they had been approached.

It was further disclosed that the a syndicate of the bookies were found to be active in the hotel where the cricketers were staying before the opening ceremony of the Pakistan Super League.

The Pakistan Cricket Board issued show-caused notices to Sharjeel Khan and Khalid Latif, who were suspended following a probe into the match-fixing allegations. Both cricketers' contracts were also cancelled by the PCB.

Peregrine wrote: DUBAI: Ten cricketers including Mohammad Asif are currently being investigated by the ICC for allegedly being involved in PSL's match-fixing saga, which shook the league after Sharjeel Khan and Khalid Latif were suspended a day earlier.

So is LaWhore PeeSL final still on?

At this attrition rate there will be no paki players left to play the el finale!! Doubt if any overseas players would be willing to take the risky bus ride to lahori "estaydiom" unless fool-proof-to-prove-a-fool "scoority" is provided which must include ten kammandus in hand me down outfits and one dedicated HeliKaptor per player is "g'ranteed".

Got to admit, this dinner and show should be fun and educational at the same time.

Saudi Arabia deported about 39,000 Pakistanis from the Kingdom in the past four months for violating the rules of residence and work, Saudi Gazette reported on Tuesday, quoting informed security sources as saying.

The sources also told the paper that the involvement of a number of Pakistani nationals in some terrorist actions orchestrated by Daesh, the so-called Islamic State, is a cause of public and societal worry.

it is funny, Saudi fund tspians to become fundoos. but don't want these fundoos in the purest land.

Peregrine wrote:Donald Trump should levy costs on Pakistan for perpetuating terror in India: US think tanks WASHINGTON: Events at Washington DC's myriad thinktanks are usually solemn, erudite affairs, marked by scholarship and cordiality. But a discussion on Friday at the Hudson Institute centering an experts' report that asked the Trump administration to take a tough new line on Pakistan turned into a raucous spectacle after the Pakistani Embassy challenged the contents through argumentative representatives and stooges.

"If Pakistan does not make progress on the above steps, the US should consider compiling a list of Pakistani military and Inter-Services Intelligence officials, current and former, who are known to have facilitated acts of terrorism-- including supporting the Afghan Taliban and the the Haqqani network -- and barring them from travel to the US," the report said.

Running into 18-pages and titled 'A New US Approach to Pakistan: Enforcing Aid Conditions without Cutting Ties,' the report was along with Curtis and Haqqani was prepared by Col (retd) John Gill (National Defense University), Anish Goel (New America), Polly Nayak (Independent Consultant), Aparna Pande Hudson Institute), Bruce Riedel (Brookings Institution), David S Sedney (Center for Strategic and International Studies) and Marvin Weinbaum (Middle East Institute).

WASHINGTON: Events at Washington DC's myriad think-tanks are usually solemn, erudite affairs, marked by scholarship and cordiality. But a discussion on Friday at the Hudson Institute centering an experts' report that asked the Trump administration to take a tough new line on Pakistan turned into a raucous spectacle after the Pakistani Embassy challenged the contents through argumentative representatives and stooges.

One questioner had to be evicted by security after he hectored Husain Haqqani, a former Pakistani ambassador to the US and a scholar-diplomat who is one of the authors of the report. Soon after he left the room shouting that Haqqani had betrayed Pakistan and is a ''RAW agent,'' another Pakistani diplomat took the floor claiming ''I have the mike...I am in control,'' as he began reciting official Pakistani talking points that appeared to have been handed over to several dubious questioners.

The familiar trope included arguments about the centrality of the Kashmir issue between India and Pakistan and how nothing could move forward unless U. S. mediated and resolved the matter, Pakistan's sacrifices in the war on terror (despite hosting many US- and UN-designated terrorists), how the US has used and discarded Pakistan, and India's subversive activities in Baluchistan, all of which the report and its principals have more or less dismissed. If anything, there is growing recognition in Washington that Pakistan has used its access to Afghanistan and terrorism under the cover of its nuclear arsenal to extract aid from the US.

The experts' report essentially calls for a halt to this, asking the Trump administration to ''stop chasing the mirage of securing change in Pakistan's strategic direction by giving it additional aid or military equipment,'' and instead warn Islamabad (after a grace period of one year) that it would be declared a state sponsor of terrorism. It also suggests Pakistan's political and military elites be subjected to travel sanctions if it not change course.

The report also urges the Trump administration to ''avoid viewing and portraying Pakistan as an ally and to deal with it as a non-ally, which has engaged in supporting the Afghan Taliban," while recommending Washington remain engaged in Afghanistan while staying out of the Kashmir imbroglio and letting India and Pakistan resolve issues bilaterally.

In fact, Lisa Curtis, one of the principal authors of the report, who is tipped for sub-continent related job in either Washington or the region in the new Trump administration, spoke of the normalcy she witnessed on a recent visit to Jammu and Kashmir after a break of 15 years, including the participation of former milita.

The growing belief in Washington that Pakistan has no equities in Jammu and Kashmir (in the words of Christine Fair, a Georgetown University scholar and trenchant critic of the old US appeasement line on Pakistan) appears to have spooked Islamabad. The Pakistani Embassy sent several representatives to the Hudson event to hector the participants, including, according to one account, the resident ISI undercover representative, who bussed in six disrupters who succeeded in embarrassing Pakistan and annoying the gathering with their remonstration.

Maulana Ghafoor Haideri, Deputy Chairman of the Mohammadden terrorist fomenting Islamic Republic of Pakistan’s Senate and a member of Maulana Diesel’s Jamiat Ulema-e-Islam is denied a US visa to attend an “UN-sponsored event in New York on February 13-14”.

The Mohammadden terrorist fomenting Islamic Republic of Pakistan’s Senate Chairman, Mian Raza Rabbani, says in a statement that “no Pakistani senate delegation will visit the United States until an explanation for the delay in issuing a visa to Maulana Ghafoor Haideri is given by U.S. authorities.”:

Thank you! That was way more entertaining than anything I have seen on TV lately

IMO, the Hudson-Heritage report is 'more of the same US policies' that are on offer since 1952, but is couched in a way as though it appears revolutionary and recognizes the Pakistani duplicity. It is a humbug report. Sorry. The latter one -third of the session may be fun, but that's a different story.

Guys, I am still watching that Hudson video, almost at the end, and a few observations. It does make some right noises, but this crap about TSP is too important to let go, TSP is too important for regional stability, and other asinine stuff is old wine in new bottle. In fact, that slimeball Weinbaum or whoever and another dimwit Polly whatever went even further to appease TSP. Bottom line, this report does not recognize the evil abomination that TSP is. As Fair didi does, it does not recognize that TSP's expectations are not reasonable, they want a perpetual conflict with India, using real or imaginary grievances, to wage an ideological war as the rightful inheritors of "South Asia" as Mughal descendants. TSP recalcitrance is not for genuinely resolving issues through mutual give and take. It

In short, anytime US says "TSP is too important for regional stability", its a dead give away to mean "India TSP equal equal".

Of course, I understand diplomacy can never be black and white. After all, US does have interests in propping up TSP for a host of reasons including equal equal, but Indian diplomacy can tango with some of the harsh recommendations in this report and aligning Indian interests with those. But what I fear is what is unsaid which India should watch for: While Lisa Curtis says no mediation BS, but could very well be that TSP meets US specific demands in return for US using its power over India in the background to move on Kashmir in TSP's direction.

KJo wrote:I think I got my goris mixed up. Wasn't Didi slobbering over TFTA mards like Burqaben some years ago? What made her suddenly become dharmic?

I think you may have (also) confused didi with bibi.

Fair ma'm has not "suddenly become dharmic", she's been in a Paki-bashing mode for a while now-perhaps the past 2 years or so (3 at most), but do not confuse that for any love for India or Indians. As to why the sudden turn? Many theories abound- jilted by a TFTA "lover", ISI threatening to unleash jihad on her honour (so she claims) and a small possibility that she actually became aware of Pakistaniyat only recently (albeit one that I find it hard to believe)

But it's enjoyable to see Fair Ma'm go hammer and tongs (peppered with spicy desi lingo) at Pakis at every given opportunity and Bakis froth and fume at the audacity of this women calling out their treachery and foolery on a regular basis.

ISLAMABAD — The chairman of Pakistan’s senate says the body will not welcome any U.S. delegation, member of Congress or dignitary in Islamabad.Oh yeah? When's the next payment for the IMF loan due again?

The move comes after the U.S. failed to issue a visa to the senate’s deputy chairman, a member of the right-wing Jamiat Ulema-e-Islam political party.

Chairman Raza Rabbani says in a statement that no Pakistani senate delegation will visit the U.S. until an explanation for the delay in issuing a visa to Maulana Ghafoor Haideri is given by U.S. authorities.And as an American, I would like our guys to give no explanation. That way, they won't ever have to try and visit the US.........

Of all the organisations promoting Pakistan's ongoing showpiece Karachi Literature Festival (KLF), there's one which might be of particular interest to Indians. It's the Indian Council for Cultural Relations (ICCR).

Some will see a conflicting signal in this, given all the talk here about isolating Pakistan, but the government's flagship cultural body, which promotes India's relations with the external world by executing the foreign ministry's projects abroad, is one of the sponsors of the event.

Government officials told TOI, India was not giving up on people-to-people contact even if political differences with Islamabad were insurmountable.

This is the first time ICCR is sponsoring the event, which began in 2010.

This mindset bothers me a great deal.We haven't learnt our lessons at all. We still believe that the Pakistanis aren't any different from us and have simply been misled and the return of the wayward to the rightful path is possible if only we maintain contact. GoI seems to see multiple strata in Pakistan as far as our relationship goes, whether NDA or UPA, namely the Pakistani Army and its intelligence agencies, the jihadi tanzeems, the political class, businessmen and the ordinary citizens.

GoI's thinking seems to be that the top two groups are inimical while the political class can be turned around with suitable 'give and take', the business community would always root for making profits (just like anywhere else in the world) irrespective of national interests largely and the ordinary citizens of Pakistan have no ill-will towards India, bound as they are by the same gene-stock, culture, language, ethnicity, culinary preferences and the like (though Jinnah listed how Pakistan was a different nation with its own distinctive culture and civilization, language and literature, art and architecture, names and nomenclature, sense of value and proportions, legal laws and moral codes, customs and calendar, history and tradition, aptitudes and ambitions, and in short a distinctive outlook on life and of life much different from the rest of India and how by all canons of International Law they were a separate nation).

That line of thinking is absolutely incorrect. We have taken that road many times before and come to grief. It must be recognized that every Pakistani, given a 1% chance, would support jihadi terrorism against us, irrespective of gender, sect, province (a section of Balochis could be different), education level, status, political affiliation etc.

Ideas like people-to-people contact, support to democracy, access to trade, confidence-building measures, addressing its paranoia are all doomed to utter failure. They only give breathing space for Pakistan to recoup and attack us with more vigour.

This ICCR initiative is absolutely unwarranted and conveys a signal that would be misinterpreted. When are we going to learn to stand firm and shutdown all avenues?

The country’s job landscape has changed radically over the past two decades. Currently the accounting/finance, sales/marketing and ICT sectors are top job creators. However, hardly 5pc of total applicants actually succeed in landing a decent job.

Technological disruption, premature shrinkage of the manufacturing sector and demographic changes in an environment of an anaemic growth rate explained the chaos and overcrowding in the job market.

According to human resource practitioners, the unemployment rate is very high and Pakistan currently lacks the capacity to absorb about two million youth entering the already swarming job market every year.

While they do not have figures to back their claim, they estimate that the unemployment rate is at 15pc, three times higher than the current official rate of 5.2pc.

These experts stress that this issue has been ignored for too long and deserves the government’s immediate attention.

“Happenings around the world reaffirm that people care most for jobs. Be it Brexit or Trump’s triumph in the US, it was all about jobs in the end”, said an economist.

He argued that job creation in Pakistan is crucial for three key reasons: sustainability of peace and growth, expanding the constituency for democracy and gaining public support essential for success of the CPEC.

He pressed that poverty and social issues could not be dealt with satisfactorily without mainstreaming the idle work-force that was seeking employment. He thought concessions and direct petty cash transfers can at best provide a temporary relief.

“People wish for and deserved employment opportunities and jobs to lead a decent, dignified life. It would be wrong to assume that growth will necessarily improve the job situation. Rulers must remember voters’ verdict in India in 2004 when they turned the tables on BJP despite a steady GDP growth rate” a lady economist remarked.

Dr Aliya Khan, an economist with a keen eye on labour affairs, recently hammered the idea of valuing the human dimension of policy initiatives. She called to and I quote: “Development of a Labour Market Information and Analysis System (LMIAS), for the CPEC to integrate and mainstream the elements of labour market dynamics in this historic opportunity of Pak-China cooperation for the socio-economic uplift and development of the people of this region, in particular the large proportion of the male and female youth entering the labour market in search of decent and productive jobs”.

An informal survey revealed major distortions in the country’s labour market owing to misallocation, mistreatment and under-utilisation of precious human resource.

The situation, if allowed to persist, would compromise efforts directed to promote efficiency and fairness in the economic system. It would retard the pace of wealth generation and perpetuate income disparities in a society already divided beyond all perceivable ways.

“Pakistan is a signatory to the Sustainable Development Goals that recognises the right to gainful employment to all and calls on governments to make labour market fair and free. Do we ever mean what we pledge?” asked a labour affairs expert.

In Pakistan the job-worker mismatch compromises the productivity potential of the economy and generates friction and frustration in youth. Workforce abundance has empowered employers to dictate terms. Weak governance allowed managements to flout labour laws at will.

Most officers contacted for comments referred to the Pakistan Labour Force Survey that projects the unemployment rate and trends in Pakistan on the basis of a survey of 47,000 people across the country.

According to an informed source associated with the Federal Bureau of Statistics the survey only treated respondents seeking a job and had not been able to find one as being unemployed. The rest were assumed to be employed.

It explains why the survey showed citizens in the age band of 65 years and above, almost cent per cent employed (0.16pc unemployed) with greater employment in old women (0.05pc unemployed). Unemployment was highest in the age band of 15-19 at 1.26pc but girls were luckier as their unemployment rate was stated to be 0.33pc in the same age bracket.

The labour force in the survey referred to all citizens of 10 years of age or over. When contacted over phone a senior officer, who wished not to be identified, told Dawn that internationally accepted definitions were used since the data was consistently used by multilateral agencies as well.

According to the survey, agriculture employs 43.7pc of the workforce, 33.9pc are absorbed by the service sector and 22.4pc by the industry.

Monas Rahman, CEO and founder of Rozee, a match-making online portal for the labour market, found an official 5.2pc unemployment rate grossly understated.

“For about a thousand new jobs advertised on this one portal daily, about 40,000 people apply”, he said, substantiating his perception of a wide supply demand gap.

“Pakistan is an employers’ market because of a widening supply and demand gap. What bargaining position can anyone have when there are teeming millions waiting outside the gate ready to replace you for half the pay”, remarked an observer.

“The delusional policymakers can’t hide behind the official unemployment rate for good”, said another observer.

Unfortunately politicians, across the political divide, talk of merit in recruitment but indulge in nepotism unabashedly.

“Government jobs and posting are used by power wielders to reward their relatives/loyalists without any regard to merit, or sold for a high price beyond the affordability of the common man. The running rate for a police constable in Sindh is Rs600,000”, commented a bitter retired bureaucrat.

Some concerned high ranking officials talked of contempt in the private sector towards workers. “The moment one tries to raise issues related to the labour force, company heads close ranks to resist. They consider it an assault on the free market ideology and an expression of ‘socialist bend’ in the government”, he said.

KARACHI: Pakistan’s decision to slap up to 40% anti-dumping duty on Chinese steel is a massive development for two reasons – it paves way for growth of the local industry and, more importantly, signals the country’s intention that it will protect the interests of its own even if over $55 billion are coming from the same geographic location.

The duty, imposed by the National Tariff Commission (NTC) last week, will be in effect for five years from the date the body commenced its investigations into the local industry’s claims that the import of Chinese steel is causing it material injury. The investigation began in August 2015.

Chinese supply glut

China has a massive supply of steel and this has turned into an international trade complexity. Steel producers all over the world often accuse China of dumping cheaper steel in their markets. They say Chinese enjoy government subsidies, allowing them to produce the commodity cheaper, rendering other players uncompetitive.

How will Highel than the Himalayas, Deepel than the Pacific Ocean, Sweetel than Honey and Mole Plecious than Eyes Fliend Leact?Cheers

Under the free trade agreement signed between Pakistan and China in 2007, imports of Chinese goods into Pakistan have received preferential treatment.

The preferential trade-weighted average tariff rates are significantly lower than the non-preferential MFN (most-favored nation) rates offered to World Trade Organization member countries that do not receive preferential treatment on trading with Pakistan.

For instance, the weighted average preferential tariff rates, calculated using data from World Integrated Trade Solutions (WITS), on the imports of machinery and mechanical appliances from China are almost half the MFN rates. Similar concessions are available on the imports of products of chemical or allied industries, base metals, and articles of stone, plaster and cement.